ARTICLES ABOUT NORTHERN TRUST BY DATE - PAGE 5

Investment firm T. Rowe Price has a stake of 8.1 percent in Chicago-based Northern Trust Corp., according to a Securities & Exchange Commission filing. Baltimore-based T. Rowe, which manages nearly $500 billion in assets, disclosed in a filing Friday that it owns about 19.6 million shares of the Chicago area's biggest locally headquartered bank. T. Rowe doesn't plan to seek changes at the company, the filing said. To read the filing, click here . Northern stock has been trading at about $43, down from about $51 a year ago. The 13G filing doesn't say when the shares were bought or at what price.

Northern Trust Corp. saw a 9 percent rise in third-quarter profits despite low interest rates that prompted it to waive more fees for money market mutual fund customers. The Chicago-based financial services firm, which serves institutions and the wealthy, earned 70 cents a share, up 64 cents from the same period a year ago. Analysts surveyed by Bloomberg expected Northern Trust to earn 69 cents a share. The results were released before the opening of the market. Analysts have been eager for Northern Trust to cut costs.

Northern Trust has opened an office in Washington, D.C. to work with clients in the area and serve institutional clients such as large corporations, foundations and endowments. "Washington, D.C., represents an ideal business opportunity for Northern Trust and allows us to be closer to our substantial and growing client base in the area," Personal Financial Services President Jana Schreuder said. Joanie Stringer will serve as managing director of the new office, where she will lead a staff of approximately 20. Northern Trust has offices in 18 states.

Northern Trust Corp. will unveil early next year the details of a widely anticipated cost-cutting campaign that's all but certain to include layoffs. Northern CEO Rick Waddell, speaking in New York Tuesday at an investor conference, wouldn't tell analysts how deeply Chicago's biggest locally headquartered bank would cut, but said, "We're going to give you more insight into this in the first quarter. " Get the full story> >

Northern Trust Corp., the Chicago area's biggest locally headquartered bank, will close three of its 15 local branches in December. The Chicago-based financial services firm, which ranks fifth in area deposits after Chase, Bank of America, BMO Harris and PNC, plans to close its branch in Glenview, one of its two branches in Lake Forest and a branch in downtown Chicago at Northwestern Memorial Hospital, the company confirmed. "Factors that were considered include nearby alternate offices, increased online and telephone service capabilities and our greatly expanded ATM network," Northern Trust said in a statement.

Patience is a virtue for the Northern Income Equity Fund (NOIEX). It takes its time researching companies to add to its portfolio and sticks with them even during tough times. That illustrates the fund's conservative approach, choosing large-cap companies that are stable and dividend-paying, said Jackie M. Benson, the fund's manager and a vice president of Northern Trust. One such company is Kraft Foods Inc. (KFT). "While the total return on Kraft might not look so impressive on an absolute basis year to date, what you've seen is Kraft come back to nearly a $36 level, which is the high for the stock," Benson said.

Northern Trust Corp., which has faced persistent questions over whether it needs to address cost cutting more aggressively, told analysts Wednesday it has started "exploratory initiatives" that could lead to a restructuring. The Chicago-based financial services firm said it expects to reveal more details, including goals on its productivity efforts, by year-end. The disclosure came as Northern, Chicago's biggest locally headquartered bank, announced a drop in second-quarter profits, partly due to acquisition and integration expenses.

Northern Trust Corp., which has faced persistent questions about whether it needs to be more aggressive about cutting costs, told analysts Wednesday that it has started "exploratory initiatives" that could lead to a restructuring. The Chicago-based financial services firm said it expects to reveal more details, including goals on its productivity efforts, by year end. The disclosure came as Northern, Chicago's biggest locally headquartered bank, announced a drop in second-quarter profits, partly due to restructuring, acquisition and integration expenses.